Annual Report 2019

FAR EAST CONSORTIUM INTERNATIONAL LIMITED 130 DIRECTORS’ REPORT DONATIONS During the Year, the Group made charitable and other donations amounting to approximately HK$8,800,000. MAJOR CUSTOMERS AND SUPPLIERS The aggregate purchases attributable to the Group’s five largest suppliers were less than 30% of total purchases and the aggregate revenue attributable to the Group’s five largest customers was less than 30% of total turnover during the Year. EMOLUMENT POLICY The emolument policy of the employees of the Group is set up by the Remuneration Committee on the basis of their merit, qualifications and competence. As at 31 March 2019, the number of employees of the Group was approximately 4,000. The emoluments of the Directors are recommended/determined by the Remuneration Committee, having regard to the Company’s operating results, individual performance and comparable market statistics. The Company has adopted FECIL Share Option Schemes as an incentive to Directors and eligible participants, details of the schemes are set out in note 45 to the consolidated financial statements. CORPORATE GOVERNANCE A report on the principal corporate governance practices adopted by the Company is set out on pages 132 to 144. SUFFICIENCY OF PUBLIC FLOAT The Company has maintained a sufficient public float throughout the Year. PRE-EMPTIVE RIGHTS There are no provisions for pre-emptive rights under the Memorandum and Articles of Association of the Company and the Companies Law, which would oblige the Company to offer new Shares on a pro-rata basis to existing Shareholders.